Adelaide property development company makes $2 million acquisition

Axiom Properties has acquired Sydney-based Listsure Pty Ltd, a loan origination and management platform which has facilitated nearly $12 billion in underlying property sales.

Jul 01, 2024, updated Jul 01, 2024
An Adelaide property development company announced a business acquisition last week. Photo: Unsplash

An Adelaide property development company announced a business acquisition last week. Photo: Unsplash

Adelaide property development and investment business Axiom Properties announced the $2 million acquisition to shareholders on June 28, saying Listsure would be integrated into Axiom’s portfolio “to further capitalise on the existing and growing traction in the real estate payment services sector”.

Listsure was founded in 2016 in an attempt to overcome issues with marketing costs in real estate, combining finance and insurance.

The company’s Pay Later or Pay On Success model can be applied to any cost incurred in property sale, including marketing and advertising, property styling and conveyancing.

The Pay Later option affords customers up to six months to pay, with the Pay On Success model giving customers up to 12 months to pay after settlement, with no requirement to pay if the property is not sold.

Axiom said key Listsure employees would be retained, including the founder and managing director Bradley Melman, with Axiom’s proptech division CEO Rob Towey to join the Listsure board.

Ben Laurence, managing director of Axiom, said the company saw the acquisition as a “key piece of Axiom’s strategy to achieve significant cut-through into the real estate payments sector”.

“Our goal is to provide a unique, embeddable payments and lending solution to our customers, with a quality market-leading user experience,” Laurence said.

Listsure has supported over 8500 transactions since it began , facilitating over $11.5 billion in underlying property sales, originating over $37.5 million in loans.

Listsure is projected to achieve $3 million in revenue in the 2025 financial year, with the earnings before interest and taxes projected as over $8 million by year five.

Projected positive cash flow is anticipated from year two, with an anticipated growth to over $18 million by year five.

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